A member of
Eurex
Marcel Naas and Marcus Addison have taken on new responsibilities within Deutsche Börse Group. As Managing Directors, both will be driving the setting up of the Deutsche Börse Buy-in Agent Service. Matthias Graulich will take over the management of Eurex Repo GmbH from Marcel Naas.
With immediate effect, Eurex Repo GmbH will be managed by Matthias Graulich and Frank Gast. Gast has been Managing Director of the company since 2013. Graulich will continue his mandate as Executive Board Member of Eurex Clearing, which he has held since August 2014, as well as his responsibility for the Fixed Income, Funding & Financing Strategy and Product Development area at Deutsche Börse Group.
Marcel Naas has headed Eurex Repo since its foundation in 2001 and has developed it into the leading provider of secured funding and financing markets across the globe. Based on his expertise in managing a regulated trading venue, he now moves to the management board of the recently founded Eurex Securities Transactions Services GmbH. Conditional on approval by BaFin (Federal Financial Supervisory Authority in Germany) this company will offer the Deutsche Börse Buy-in Agent Service. Together with Marcus Addison, up until now Head of Default Management at Eurex Clearing, Naas will establish the newly founded company.
Launching in the second half of 2020, the Deutsche Börse Buy-in Agent Service will offer market participants an automated and standardized solution to meet the regulatory framework of the Central Security Depository Regulation (CSDR). The new regulation on settlement discipline for securities trading transactions obliges the buyer in a securities transaction to initiate a buy-in process against the seller should the settlement of a transaction fail after a certain period of time. This calls for a neutral third party who acts as buy-in agent, something which was not previously required. Subject to BaFin approval, the Deutsche Börse Buy-in Agent Service will close this gap and enable market participants to comply with the regulation on settlement discipline that comes into force in the second half of 2020.
Alongside their Managing Director positions at Eurex Securities Transactions Services GmbH, Naas and Addison will continue with their current roles – Naas as Member of the Executive Board of Eurex Global Derivatives AG, headquartered in Zug, Switzerland, and Addison in the risk area at Eurex Clearing.
Photos can be provided upon request.
Eurex media contact:
Irmgard Thiessen
+49-69-211-15911
irmgard.thiessen@deutsche-boerse.com
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.